3 6 Ke·2025-10-14 00:15Core Insights - The competition in the new energy vehicle market is intensifying, with smart driving transitioning from an "add-on" to a "must-have" feature, leading to a "arms race" in smart driving technology [1] - Traditional automakers are increasingly opting to acquire mature smart driving technologies rather than developing them in-house, as evidenced by recent investments from companies like FAW and Mercedes-Benz [1][2] - The market for smart driving is becoming a "game for the strong," with leading suppliers gaining significant advantages in data, computing power, and algorithm iteration [10][12] Group 1: Investment Trends - FAW has acquired a 35.8% stake in Zhuoyue Technology, becoming its largest single shareholder, while Mercedes-Benz invested 1.34 billion yuan in Qianli Technology, acquiring a 3% stake [1][2] - Traditional automakers are shifting their strategies to focus on acquiring proven smart driving technologies rather than investing in startups [1][2] - Companies like BYD and Geely are also making significant investments in smart driving firms, indicating a trend towards deeper collaboration and investment in third-party technologies [2][5] Group 2: Strategic Shifts - Many traditional automakers are consolidating their internal smart driving teams to enhance efficiency and focus on strategic partnerships with third-party suppliers [4][5] - The approach of "two-pronged betting" is becoming common, where companies maintain partnerships with third-party suppliers while also developing their own smart driving strategies [5][7] - The urgency of the market is pushing automakers to collaborate with established smart driving suppliers to mitigate risks and accelerate development [7][8] Group 3: Market Dynamics - The smart driving market is witnessing a division into three main camps: ecosystem giants like Huawei and Horizon Robotics, algorithm-focused suppliers like Momenta, and automaker-backed firms [8][9] - The competitive landscape is narrowing, with leading players like Momenta and Huawei capturing significant market shares in the navigation-assisted driving sector [9][10] - The emergence of advanced models like VLA (Vision-Language-Action) is reshaping the smart driving landscape, requiring substantial data and computing resources, thus raising the entry barriers for smaller suppliers [10][12][14] Group 4: Future Outlook - As automakers increasingly acquire smart driving capabilities, the competition will shift back to core aspects such as cost efficiency, user experience, and data iteration capabilities [21] - The collaboration between automakers and smart driving suppliers is evolving from simple partnerships to deeper, more integrated development efforts [21] - The future of smart driving will depend on how effectively companies can translate acquired technologies into tangible user benefits, emphasizing the need for both capital investment and strategic insight [21]